A surge in pharmaceutical production has helped Singapore's increase in manufacturing output.
In Malaysia, there have been reports that its pharmaceutical market is expected to raise sales of some $1.1 billion (£0.67 billion) this year – an increase of ten per cent from last year.
President of the Malaysian Organization of Pharmaceutical Industries Jimmy Piong asserted the growth was due to growing sales of A/H1N1 vaccines and generic medicines. However, he noted sales of over-the-counter products were falling.
IMS Health highlighted seven countries it calls "pharmerging countries". These emerging markets that are increasing operations in the pharmaceutical industry are Brazil, Mexico, China, South Korea, India, Russia and Turkey.
Shailesh Gadre, managing director of ORG IMS, explained in an interview with Express Pharma "pharmerging markets … have the potential to drive the growth of the global pharma industry".
He added the value of operations in these locations could be equal to that of the top five European markets by 2011.
"I think these are the places people need to invest in and figure out how they can leverage their opportunities and their understanding in these markets," Mr Gadre told the website.
PA manufacturing expert Tom Toth comments: "With the pharmaceutical markets in Asia, Africa and Latin America forecast to grow with a CAGR of 11% to 14% over the next 3 years compared with a static market, at best, in North America, the emerging markets will be critical to the industry.
Our view is that the global pharmaceutical manufacturers need to rapidly transform their businesses into more diverse structures with greater external networks in the emerging markets to stay ahead."
To find out more about the future of pharmaceuticals in emerging markets, please contact us now.